BONK has achieved stability at 0.00004002 dollars, can the buying side create a comeback?

Recent trading activity suggests that BONK is maintaining stability at the critical support level of $0.00004002. This stability comes after a period of downward pressure, sparking speculation of an imminent recovery. With signs of a buy-by recovery, the backdrop is poised for a comeback that could reshape BONK's short-term trajectory. Is this level a springboard for recovery or does it need to consolidate further before the next move? Support remains stable: Signs of recovery in prices When market sentiment fluctuates between caution and optimism, determining the recent support level of this meme coin at $0.00004002 is crucial for investors and traders to reassess their position ahead of potential volatility. Related article: BONK increases by 20% as 'Dog Season' begins, analysts say On the 4-hour chart, BONK is showing a stable uptrend despite trading below the 100-day Simple Moving Average (SMA). After a strong recovery from the key support level of $0,00004002, the asset is taking steps to expand its upward momentum, aiming for the resistance zone at $0,00006247. A successful breakout above the 100-day Simple Moving Average (SMA) could further confirm its recovery, potentially opening the door to higher levels.

In addition, the formation of the 4-hour Relative Strength Index (RSI) indicates that buying pressure rebounds and shifts to more optimistic market sentiment. Once the RSI rises and reaches 50%, it can confirm the bullish move, giving BONK the power to push the price higher and test key resistance levels. Daily BONK performance over time frame BONK is showing signs of potential upward momentum on the daily chart, staying above the 100-day SMA after rebounding at the $0.00004002 support level. Holding above this support level sets the stage for further growth. If BONK can maintain its position above this level and continue to build momentum, it could pave the way for a further price breakout and upward movement.

Furthermore, the daily RSI shows signs of recovery, maintaining a stable position above the 50% threshold. The continuous trend at this level implies that the asset is in a favorable position to increase profits, with the potential for sustainable price growth. If the RSI continues to rise, it may indicate increasing confidence among traders and signal positive price action for the meme currency. So far, BONK is at a crucial point, when finding stability above the $0,00004002 support level and the 100-day daily SMA. If Bonk can maintain its position above this support level and continue its current upward momentum, a potential recovery may be underway, pushing the price towards the $0,00006247 resistance level and beyond. However, failure to sustain $0,00004002 could change the downward direction of the meme coin, prompting it to retest lower support areas such as $0,00002962 and $0,00002320.